A stakeholder's interest in New York-listed shipowner Eagle Bulk Shipping has fallen below 5%, prompting a regulatory filing.
Cayman Islands-based AC Maritime's stake dropped to 4.7%, or just under 3.5m shares out of 74.1m shares outstanding, according to an SEC document.
Eagle Bulk's current market cap is $380.9m.
In April 2017, AC Maritime's stake in Gary Vogel-led Eagle Bulk reached 6.9%,
